Ann: Archer's 12CQ Quantum Project Hits Key Milestone, page-68

maybe I can add some context,

Graphene is a type of carbon. There are different isotopes of carbon where slight changes in the structure of the carbon atoms gives different carbon materials. One of which is the 12CQ material, 12 being the most stable form of carbon . These are also termed nanomaterials. Their structure and properties can be modified at nanoscale. This is really the USP of AXE. Their expertise with nano engineering and their patents for some carbon nano materials. Together this has taken them into developing graphene field effect transistors which will be embedded into biochips. and the single electron transistor which uses the 12CQ nano material to achieve precise electron control and an ability to also measure the spin of these few electrons accurately.

Now the nano material has been called carbon nano onions, now changed to films and also most recently being called carbon nano spheres CNS. Changing from CNOs to films was a change in the structure of the molecules to facilitate better engineering, as has been detailed in updates in last 3 mnths. Explanation was given that films have achieved what CNOs could not. Now what the new change to CNS is I haven't looked into. We are a carbon nanomaterial research and development company. Have now discovered a method to deploy the advantages of carbon semiconductor properties. These properties include - low power needs, low heat generation, which are the holy grail for anywhere that chips are used. Added to this is the super sensitive quantum behaviour of these carbon electrons. This is what's being used to make sensors that can register readings that are needed in some use cases.

I personally am of the opinion that as an R&D company we have to pivot to wherever the research and engineering breakthroughs takes us. TMRs are a way to harness the quantum scale behaviour of the 12CQ material. The board decided it's better to take this road. Quantum chips that can do their own quantum logic operations is a challenege that might suit some deep pockets and open ended time lines. I question whether a listed company can go down that route without the SP becoming very disconnected from R&D progress updates. Some here have said that Mo did not care about the SP. Yes, that would have aligned with his view of a quantum chip some day and no promises or timelines. Do we want to share that approach. I think the board decided "No".